Chevron Reports Q3 Net Income of $3.83 Billion, Down 51% Year to Year
By admin - Posted on November 2nd, 2009
Upstream earnings of $3.64 billion decline 41 percent on lower prices for crude oil and natural gas
SAN RAMON, Calif., October 30, 2009 - Chevron Corporation (NYSE: CVX) today reported earnings of $3.83 billion ($1.92 per share - diluted) for the third quarter 2009, compared with $7.89 billion ($3.85 per share - diluted) in the 2008 third quarter. Earnings in the 2009 period included gains of approximately $400 million ($0.20 per share) from asset sales and tax items.
Foreign-currency effects reduced earnings in the 2009 quarter by $170 million, compared with a benefit to income of $303 million a year earlier.
For the first nine months of 2009, earnings were $7.41 billion ($3.71 per share - diluted), down 61 percent from $19.04 billion ($9.23 per share - diluted) in the first nine months of 2008.
Source: Chevron
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